Orthofix Medical Inc (OFIX) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lifted its holdings in Orthofix Medical Inc (NASDAQ:OFIX) by 185.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,576 shares of the medical device company’s stock after purchasing an additional 2,973 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Orthofix Medical were worth $258,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in OFIX. Norges Bank acquired a new position in Orthofix Medical during the 4th quarter worth approximately $23,555,000. Victory Capital Management Inc. boosted its position in Orthofix Medical by 782.8% during the 4th quarter. Victory Capital Management Inc. now owns 326,063 shares of the medical device company’s stock worth $17,115,000 after acquiring an additional 289,126 shares during the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new position in Orthofix Medical during the 1st quarter worth approximately $11,328,000. Tygh Capital Management Inc. boosted its position in Orthofix Medical by 62.2% during the 4th quarter. Tygh Capital Management Inc. now owns 168,949 shares of the medical device company’s stock worth $8,868,000 after acquiring an additional 64,788 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Orthofix Medical by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,879,897 shares of the medical device company’s stock worth $108,677,000 after acquiring an additional 63,343 shares during the last quarter. 94.13% of the stock is owned by hedge funds and other institutional investors.
OFIX has been the subject of a number of recent research reports. Zacks Investment Research downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. BidaskClub raised Orthofix Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 9th. BTIG Research reaffirmed a “neutral” rating on shares of Orthofix Medical in a research report on Tuesday, February 26th. Finally, ValuEngine downgraded Orthofix Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $60.00.
Orthofix Medical (NASDAQ:OFIX) last released its quarterly earnings data on Monday, May 6th. The medical device company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.13). The company had revenue of $109.10 million during the quarter, compared to analyst estimates of $110.59 million. Orthofix Medical had a net margin of 2.09% and a return on equity of 10.45%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. On average, sell-side analysts forecast that Orthofix Medical Inc will post 1.77 earnings per share for the current fiscal year.
In other news, CEO Brad Mason sold 10,668 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $53.71, for a total value of $572,978.28. Following the completion of the sale, the chief executive officer now owns 165,120 shares of the company’s stock, valued at approximately $8,868,595.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.60% of the company’s stock.
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Orthofix Medical Company Profile
Orthofix Medical Inc, a medical device company, provides musculoskeletal healing products and therapies worldwide. It operates through four segments: Bone Growth Therapies, Spinal Implants, Biologics, and Orthofix Extremities. The Bone Growth Therapies segment manufactures, distributes, and provides support services for bone growth stimulator devices that enhance bone fusion and are indicated as treatment to enhance fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spinal appendicular fractures.
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